Main Scenario: As long as it stays above 1,1052 support points, our main expectation is POSITIVE!
In addition, positive outlook over 1.1115 level is supported.
Target Expectation: 1,1115 – 1,1155 – 1,1200
Considerations Supporting The Scenario: Despite the recent declines, the uptrend has not yet ended. Furthermore, the course of the 233-period exponential moving average continues and the Relative Vigor Index indicator maintains the BUY signal.
Alternative Scenario: In case of 4-hour closing below 1.1052 level, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1,0995 – 1,0955 – 1,0925
MOST IMPORTANT NEWS OF THE WEEK:
Tuesday, October 29
- Turkish Stock Exchange Closed Due To Republic Day
- Speech by President Lowe ofthe Central Bank of Australia (RBA)
- Speech by Weidmann, Chairman of the Bank of Germany
- S & P / CS Housing Price Index Compound, Conference Board (CB) Consumer Confidence, Suspended House Sales and Weekly Crude Oil Stocks of the American Petroleum Institute from USA
Wednesday, October 30
- Consumer Price Index (CPI) from Australia
- Economic Confidence Index from Turkey
- Germany Consumer Price Index (CPI) from the Euro Area
- ADP Non-Farm Employment Change, Gross Domestic Product (GDP), Crude Oil Stocks and Gasoline Stocks from USA
- Bank of Canada Interest Rate Decision and Press Conference
- Federal Open Market Committee (FOMC) Minutes, Interest Rate Decision and Speech by President Powell
Thursday, October 31
- Interest Rate Decision and (BoJ) Chairman Kuroda Speech from Japan
- CBRT Inflation Report and monetary policy meeting summary from Turkey
- Manufacturing and Non-Manufacturing Purchasing Managers Index (PMI) from China
- From Turkey Trade Balance (Sep)
- Euro Area Consumer Price Index, Core Consumer Price Index (CPI) and Gross Domestic Product (GDP)
- Core Personal Consumption Expenses Price List, Unemployment Claims Applications, Personal Income and Expenditure, Chicago Purchasing Managers Index and Natural Gas Stocks from USA
- Gross Domestic Product (GDP) from Canada
Friday, November 01
- Caixin Manufacturing Purchasing Managers Index (PMI) from China (Oct)
- Manufacturing PMI (Oct) from Turkey
- Manufacturing Purchasing Managers Index (PMI) (Oct) from UK
- Non-Farm Employment, Average Hourly Earnings, Unemployment Rate, Manufacturing and ISM Manufacturing Purchasing Managers Index from USA
- FOMC Members Williams’s Clarida’s and Quarles’s Speech
- Fitch upgraded Turkey’s Note Review from Turkey
THE MOST IMPORTANT DAY OF THE WEEK and ASSETS:
For the Forex market, all other days except Monday and Tuesday are of high importance. The most remarkable economic calendar data of the week is undoubtedly the result of the FOMC meeting, CBRT Inflation Report Presentation and Non-Farm Employment data from the USA.
- Taking into account the current news flows on Monday, GBPUSD may draw attention compared to other assets.
- Taking into account the current news feeds on Tuesday, EURUSD may draw attention compared to other assets.
- Considering the current news feed on Wednesday, EURUSD, USDCAD and GOLD may attract attention compared to other assets.
- Considering the current news feeds on Thursday, USDJPY and USDTRY may draw attention compared to other assets.
- Considering the current news flows on Friday, EURUSD, USDJPY, GOLD and USDTRY may draw attention compared to other assets.